Independence Day
I've personally only owned one REIT acquired by private equity which was BNP Residential. BNP was a mid-market apartment REIT located in Charlotte, NC. Short-term the private equity acquisition was pretty good for my small investment in BNP. However, as an advocate of REITs, I'm concerned about the long-term investment options available to the public as more REITs are taken private.
On this July 4th, I would like to reflect and take a break from the private equity frenzy. As a result of this frenzy, we are sacrificing long-term capital appreciation and reliable long-term income for short-term gains. Our founding fathers took the long-view, and I would like to encourage REIT management to consider the long-view as well. Let's be completely forthcoming, when a REIT goes private the only long-term losers are the former investors.
Have a great 4th of July!
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Jul.04.2007. 13:04
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